GOOD JOB! WORLD BANK BILIB AT PINURI SI PANGULONG DUTERTE DAHIL SA PATULOY NA PAGLAGO NG EKONOMIYA PILIPINAS.
A top World Bank official has lauded the Duterte administration for implementing a “proactive and forward-looking” comprehensive tax reform program (CTRP) that aims to raise enough funding for two priority programs—public infrastructure and social services—that lay the foundation for long-term, high growth.
Lalita Moorty, the World Bank Director of Macroeconomics, Trade, and Investment, also said it is “quite a change” to see a country implementing tax reform proactively with an eye on sustained growth, unlike the common practice for countries to implement such reforms only when they are in the middle of a fiscal crisis.
She said this was impressive because the government has enabled the economy to “grow so much” even as it has managed to bring down its debt-to-GDP (gross domestic product) ratio.
Moorty said the Philippines’ recent accomplishments on the economic front, especially in implementing a tax reform program to enable the government to aggressively increase its investments on infrastructure and social services, has been “quite impressive.”
She also cited the Philippine government’s sound fiscal policies as shown by its declining debt-to-GDP ratio while maintaining rapid growth and increased public spending.
